Jack Welch And His Management At GE. Term Paper

Length: 2 pages Sources: 1+ Subject: Business Type: Term Paper Paper: #33628549 Related Topics: Crisis Management, Six Sigma, Retirement, Facilities Management
Excerpt from Term Paper :

¶ … Jack Welch and his management at GE. Specifically, it will include some of the changes Jack Welch brought to GE. Jack Welch transformed General Electric Corporation (GE) from a mostly American company that was losing money in many areas to a global corporation that is one of the most admired in the world. Welch brought a variety of changes to the organization, and reinvented how many companies do business.

Jack Welch was the Chairman and CEO of General Electric Corporation from 1981 to his retirement in 2001, and he brought sweeping changes to the company and to business in general. "Under Welch's leadership, GE rose to be ranked No. 1 among the world's most valuable companies based on a combination of revenues, profits, market value, and assets" (Strohmeier 16). When Welch took over as Chairman in 1981, General Electric was facing many crises in its people respected him, but employees feared him because he was also continually downsizing the organization. Staff called him "Neutron Jack" because he continually "vaporized" the staff (Strohmeier 16). In fact, he required management to "lose" 10% of the bottom performers in their staff every year. (Many of these people were redeployed, but the stigma of being in the "bottom 10" often stayed with them throughout their careers.) Many employees hated Welch for eliminated over 180,000 jobs, but his concept of reengineering is now accepted and applauded in the business world.

While Welch downsized employees and sold off non-profitable subsidiaries, he also nurtured his management, especially by including them in the decision…

Sources Used in Documents:

Bibliography

Author not Available. General Electric Takes Top Honours in First Financial Times / PricewaterhouseCoopers World's Most Respected Company Survey. Business Wire. 30 Nov. 1998.

Strohmeier, Brian R. "The Leadership Principles Used by Jack Welch as he Re-energized, Revolutionized and Reshaped General Electric." Journal of Leadership Studies 5.2 (1998): 16.


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